China Investment Compass - Quarterly 3Q25: stay defensive and focus on bottom- up earnings Equity Strategy Stay defensive and focus on earnings China market outperformed in 1Q25 but traded sideways in 2Q. The Liberation Day tariffs drove a broad-based market sell-off in early April, but major global markets rebounded subsequently and largely recovered the losses. Investors we spoke to recently are less concerned about the geopolitical tensions (believing "the worst is over") and have low expectations on any ...

This achievement continues CoreWeave's legacy of delivering first-to-market access to the world's most advanced AI infrastructure demanded by the world's leading AI labs and enterprises. This initial deployment of NVIDIA GB300s expands on CoreWeave's existing Blackwell fleet, which also includes the NVIDIA HGX B200 and the NVIDIA GB200 NVL72 system. Last year, CoreWeave was among the first to offer NVIDIA H200 GPUs and was the first AI cloud provider to make NVIDIA GB200 NVL72 systems generally available. I ...

Core Insights - CoreWeave (CRWV) and Microsoft Corporation (MSFT) are key players in the AI infrastructure market, with CRWV focusing on GPU-accelerated services and Microsoft leveraging its Azure platform [2][3] - CRWV has shown significant revenue growth driven by AI demand, while Microsoft maintains a strong position through extensive investments and partnerships [5][9] CoreWeave (CRWV) - CRWV collaborates with NVIDIA to implement GPU technologies and was among the first to deploy NVIDIA's latest clusters for AI workloads [4] - The company reported revenues of $981.6 million, exceeding estimates by 15.2% and increasing 420% year-over-year, with a projected global economic impact of AI reaching $20 trillion by 2030 [5] - CRWV has a substantial backlog of $25.9 billion, including a strategic partnership with OpenAI valued at $11.9 billion and a $4 billion expansion agreement with a major AI client [6] - The company anticipates capital expenditures (capex) between $20 billion and $23 billion for 2025 to meet rising customer demand, with interest expenses projected at $260-$300 million for the current quarter [7] - A significant risk for CRWV is its revenue concentration, with 77% of total revenues in 2024 coming from its top two customers [8] Microsoft Corporation (MSFT) - Microsoft is a dominant force in AI infrastructure, with Azure's global data center coverage expanding to over 60 regions [9] - The company invested $21.4 billion in capex in the last quarter, focusing on long-lived assets to support its AI initiatives [10] - Microsoft has a $315 billion customer backlog and is the exclusive cloud provider for OpenAI, integrating AI models into its services to enhance monetization opportunities [12] - The company projects Intelligent Cloud revenues between $28.75 billion and $29.05 billion for Q4 fiscal 2025, with Azure revenue growth expected at 34%-35% [14] Share Performance - In the past month, CRWV's stock surged by 69%, while MSFT's stock increased by 8% [17] - Current Zacks Rank indicates MSFT as a better investment option compared to CRWV, which has a lower rank [18]

In this articleNVDA"Compared to Nvidia's export-restricted chips, the performance gap between Huawei and the H20 is less than a full generation," said Dylan Patel, founder, CEO and chief analyst of SemiAnalysis. Sinology | Moment | Getty ImagesWith the U.S. restricting China from buying advanced semiconductors used in artificial intelligence development, Beijing is placing hopes on domestic alternatives such as Huawei. The task has been made more challenging by the fact that U.S. curbs not only inhibit Chin ...

CoreWeave (NASDAQ: CRWV) shares plunged Tuesday after a critical analyst note from D.A. Davidson raised concerns about the cloud computing company’s financial fundamentals and outlook.As of press time, CoreWeave’s stock was trading at $150.49, down 7% on the day. The selloff is particularly notable given that shares had rallied approximately 160% over the past month.CRWV one-day stock price chart. Source: Google Finance That impressive run-up has been fueled mainly by ongoing enthusiasm around artificial in ...

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容 编译自 ieee 。 对于那些喜欢支持弱者的人来说，最新的MLPerf基准测试结果可能会令人失望：Nvidia 的GPU仍 然占据主导地位再次。这包括在最新、最苛刻的基准测试中，对Llama 3.1 403B 大型语言模型进 行预训练时，所展现出的顶级性能。即便如此，基于最新AMD GPU MI325X 构建的计算机在最 流行的 LLM 微调基准测试中，其性能与Blackwell 的前代产品 Nvidia H200 相当。这表明 AMD 落后了Nvidia一代。 MLPerf训练是MLCommons联盟举办的机器学习竞赛之一。"AI 性能有时就像狂野西部。MLPerf 致力于打破这种混乱，" Nvidia 加速计算产品总监Dave Salvator表示。"这并非易事。" 本次比赛包含六个基准测试，每个基准测试分别针对一个与行业相关的机器学习任务。这些基准测 试包括内容推荐、大型语言模型预训练、大型语言模型微调、机器视觉应用的目标检测、图像生成 以及用于欺诈检测和药物研发 等应用的图节点分类。 大型语言模型预训练任务是最耗费资源的，而本轮更新后更是资源密集。 ...

Group 1: Company Overview - MiTAC Computing Technology Corporation is a leading server platform design and manufacturing company, a subsidiary of MiTAC Holdings Corporation, showcasing innovations in AI infrastructure at COMPUTEX 2025 [1][6] - The company specializes in AI, high-performance computing (HPC), cloud, and edge computing, ensuring uncompromising quality at system and rack levels [6][7] Group 2: Product Innovations - MiTAC Computing introduced the MiTAC G4527G6 server, optimized for NVIDIA MGX architecture, supporting NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs and NVIDIA H200 NVL platform for enterprise AI workloads [1][2] - The G4527G6 server accommodates up to eight NVIDIA GPUs, 8TB of DDR5-6400 memory, and integrates four NVIDIA ConnectX-8 SuperNICs, delivering up to 800 Gb/s of networking [2][3] - The MiTAC G4527G6 server configuration supports a wide range of AI-enabled enterprise applications, providing up to 1.8X faster LLM inference and 1.3X improved HPC performance compared to the previous generation [5] Group 3: Market Positioning - MiTAC Computing aims to build enterprise AI factories with a full-stack platform optimized for next-gen enterprise AI, offering over 100 customizable configurations [4][5] - The company leverages advancements in AI and liquid cooling, integrating Intel DSG and TYAN server products to enhance innovation, efficiency, and reliability [7]

Core Viewpoint - Nvidia has significantly benefited from the AI boom, with its stock rising over 800% since January 2023, and the recent decision by the Trump administration to rescind the AI Diffusion framework may further enhance its share price appreciation [1][6]. Group 1: AI Diffusion Framework - The Commerce Department rescinded the AI Diffusion framework, which was initially announced during the Biden administration and aimed to limit the sale of advanced semiconductors to various countries [3][6]. - The AI Diffusion framework categorized countries into three tiers based on their access to U.S. technology, with first-tier countries having unlimited access, second-tier countries facing restrictions, and third-tier countries being completely prohibited from importing advanced AI chips [4][5]. Group 2: Nvidia's Strategic Moves - Nvidia has recently formed AI infrastructure partnerships with Saudi Arabian companies, which would have been complicated under the previous AI Diffusion framework [7]. - The collaboration with Saudi company Humain involves building AI data centers using 18,000 Nvidia Grace Blackwell superchips and deploying Nvidia's Omniverse simulation software [8]. - Nvidia will also work with the Saudi Data & AI Authority (SDAIA) to establish a sovereign AI factory, deploying 5,000 Nvidia Blackwell GPUs [9]. Group 3: Market Outlook and Analyst Sentiment - The rescission of the AI Diffusion rules is viewed positively by Nvidia shareholders as it opens new market opportunities in the Middle East, which had previously been overlooked for GPU demand [10]. - Wall Street analysts are optimistic about Nvidia, with 87% of 69 analysts recommending a buy rating and a median target price of $160 per share, indicating an 18% upside from the current price of $135 [11]. - Nvidia's adjusted earnings are projected to increase by 46% over the next four quarters, making its current valuation of 45 times earnings appear reasonable [12].

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：本文 编译自 tomshardware ，谢谢。 埃隆·马斯克的 xAI 孟菲斯超级集群一期项目刚刚达到满负荷运营，现场变电站已投入运营并连接 到主电网。据大孟菲斯商会称，该站点将从孟菲斯电力、燃气和水务局 (MLGW) 和田纳西河谷管 理局 (TVA) 获得 150 兆瓦的电力。除此之外，xAI Colossus 超级计算机还拥有另外 150 兆瓦的 Megapack 电池作为备用电源，使其能够在断电或用电需求增加时持续供电。 马 斯 克于去 年 7 月 首 次 启 动 他的 AI 集 群 ， 该 集 群 在 单 一 架 构 上 搭 载 了 10 万 块 Nvidia H100 GPU。这台 xAI 超级计算机的搭建速度非常快，公司只用了 19 天就将其投入运行——而 Nvidia 首席执行官黄仁勋表示，这通常需要四年时间。然而，如此快的速度意味着它不得不走一些捷径， 比如在没有电网供电的情况下启动，因此该站点使用了大量天然气涡轮发电机来满足其电力需求。 初步报告称，该站点内停放了 14 台发电机，每台输出功率为 2.5 兆瓦，但一些居民最近抱怨说， 附近发现 ...

公司发布2024 年年报以及2025 年一季报：2024 年全年实现营业收入33.62 亿元，同比增长12.70%；归 母净利润0.5 亿元，同比扭亏为盈；2025 年第一季度实现营业收入9.52 亿元，同比增长45.04%；归母净 利润0.21 亿元，同比增长109.04%。 投资要点 业绩拐点已到，高端覆铜板为业绩赋能 公司2024 年实现营业收入33.62 亿元，同比增长12.70%。 其中，覆铜板业务实现营业收入26.03 亿元，同比增长11.82%，毛利率为3.07%，同比增加4.32 个百分 点；粘结片实现营业收入6.97 亿元，同比增加18.11%，毛利率为30.22%，同比增加4.30 个百分点。公 司2025 年第一季度实现归母净利润0.21 亿元，同比增加109.04%，主要系2025年第一季度公司产品结构 优化，毛利率提升影响所致。 美国商务部于美东时间4 月15 日宣布，NVIDIA H20、AMDMI308 以及同类型的AI 芯片，都增加了新 的中国出口许可要求。美国政府通知英伟达，向中国（包括香港和澳门）及D:5 国家或地区，或向总部 位于或最终母公司位于这些国家的公司出口H20 ...